Notes

Property Management Owner's Dilemma: Get Bigger, Stay the Same, or Sell Out?
"There are simply two directions; you're either growing or you're dying. There ain't no third direction." (Tommy Callaghan, Sr. in "Tommy Boy")
Business can be a funny thing; an example may be never allowed to be satisfied. If you take up a company, grow it, and start to cashflow it, then that's good, right? Isn't that the thought? I thought it was, at least.
However, it truly isn't if you read the news, view tv, or attend any company get togethers. The things that people wish to mention are:


What are your growth figures with regards to revenue? Projected in the market to 2015?

Is your social media marketing and digital strategy sound? Have you made enough time and financial investments?

Have you thought about geographical expansion? Franchise? Office openings?
And and much more as well as on. There apparently isn't downtime allowed! If you sit pat, you're destined to fail. You must reach for the celebs of worldwide domination! The purpose of earning profits would be to reinvest it! Get on it! Get bigger! Now!
So rapid growth is left because only option, if you don't desire to be considered a "burned-out" property manager. If you choose to pursue slower, organic growth, you will be called "uninspired", a "non-visionary", and lazy. No one writes articles on business owners who stay the course! Those stories got chopped out at the start of the editing room. But despite many loud naysayers to the contrary, staying exactly the same is certainly an extremely viable option. It's just the "keeping on, keeping on" strategy. Nothing is wrong with that!
But why don't you consider in case you really are "uninspired" now? You are burned out! You are a property management company owner (or real estate agent) who doesn't want to deal with the company anymore. You are looking to escape then sell out. How would you try this?
You could employ a business broker to get somebody that desires to add property management with their real estate property brokerage company, or maybe desires to own a stand-alone property management company. These instances are pretty rare along with the business broker would truly be earning their money should they found someone that will buy your smaller firm (under $1M in revenues)!
What is more likely is you would sell your management accounts to another property management firm. For property manager doncaster , I received correspondence yesterday in one in the largest property managers around; this letter was undoubtedly shipped to every property management company in your neighborhood. The letter asked to buy up the property management accounts there was.
In mergers & acquisitions speak, we were holding having a typical roll-up means of buying up every smaller company in your community to accelerate their growth. They had no curiosity about our systems or procedures; they merely wanted to throw our management clients to their management machine. This would be a timely way for them to grow rapidly. It also has to be quick way for "uninspired" property managers to move out of the business and earn some quick money away from their company. A true win-win? Possibly!
To grow, stay, or go- it's actually a personal decision that shouldn't be the effect of other's expectations. There are solutions regardless of what you and the company's strategy is!
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